Al Rajhi Bank becomes the First Bank to Launch Digital ‘Supply Chain Finance’ Products

04 November 2018

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Al Rajhi Bank's Corporate Banking Group has recently launched digital Supply Chain Finance products, which makes Al Rajhi Bank the first bank in Saudi Arabia to provide its customers with comprehensive financing solutions in this field using an online platform.

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Mr. Majid bin Abdulrahman Al-Quwaiz, General Manager of the Corporate Banking Group said that introducing these new products is a reflection of the Bank's strategy to develop and enhance its corporate banking services to support its customers and to meet their needs. "We are also proud that the international trade finance team that worked on developing these products comprised of a group of ambitious young Saudis”, he added.

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These recently-introduced solutions and products are going to meet the needs of the working capital cycle and trade-related requirements for corporate clients on a large scale that includes clients, suppliers and their customers, and provide them with the liquidity they need to guarantee smooth and regular operations of their businesses.

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The new products include supplier financing, receivables financing and insurance claims discounting, and they are all in line with the Saudi Vision 2030, which aims at supporting the growth of the private sector, providing solutions to facilitate its operations, and focusing on digital leadership and the development of electronic platforms in every field.

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Al Rajhi Bank is keen on developing its corporate banking services to meet the expectations and rapidly-growing needs of its customers. The bank is striving to to enhance its corporate banking solutions and continues to provide its customers with innovative pioneering solutions. The bank has achieved unmatched success, thanks to its sophisticated electronic infrastructure, and its distinguished team that spares no effort in providing the best solutions. The core concept is to establish comprehensive relationships with the customers and providing them with everything they need in every field.

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